Bulgaria releases three energy fraud operation bosses

Bulgaria’s National Electric Company (NEK) CEOs Krum A. and Ivo L., along with Sabin S., the CEO of Worley Parsons, arrested earlier over allegations of irregularities supposedly occurred in relation to the construction of the Russian-sponsored Nuclear Power Plant (NPP) in Belene, have been released from custody, Bulgarian media reported in September 2013. ...

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VAT scheme haunts Bulgaria, strips budget of EUR 200 mln

Bulgarian fraudsters are no exception when it comes to abusing EU VAT rules on cross-border transactions within the EU and have created their own variant of the missing trader fraud, which is currently stripping the Bulgarian Treasury of at least an estimated EUR 200 mln every year, Bulgarian police and customs office sources told CEE Insight. ...

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